Every year, thousands of international buyers choose Mallorca to live, invest or enjoy a second home. The good news is that there are no restrictions on foreigners buying property in Spain. The process is safe and well regulated, but it helps to know the steps and to have the right guidance. In this guide we explain how to buy in Mallorca with complete peace of mind.
1. Can a foreigner buy in Mallorca?
Yes. Both EU and non-EU citizens can buy property in Spain without limits. All you strictly need is an NIE (foreigner identification number) and a Spanish bank account to handle the payments. We guide you through both.
2. The NIE: your tax number in Spain
The NIE is an identification number required for any transaction with economic significance in Spain, including buying a home. It can be requested in person in Spain or through the Spanish consulate in your country, and can also be arranged via power of attorney if you cannot travel. It is one of the first things worth sorting out.
3. Opening a Spanish bank account
You will need a Spanish bank account to handle the purchase payments, the taxes and, later, the property's utilities. With your NIE and personal documents, opening one is straightforward. If you plan to finance the purchase, this is also the moment to consider a mortgage with local or international banks.
4. The reservation and the deposit contract
Once you find the right property, the usual process is:
- Reservation: the property is taken off the market with a holding deposit, subject to legal checks.
- Deposit contract (arras): a private contract is signed and usually 10% of the price is paid. If the buyer pulls out they lose the deposit; if the seller does, they return it doubled.
- Signing before a notary: the public deed is granted, the balance is paid and the keys are handed over.
Before signing any contract, it is essential to confirm that the property is free of charges, correctly registered and with all documentation in order. At DeAlmeida we coordinate this review with specialist legal advice.
5. Taxes and purchase costs
On top of the price, you should budget for taxes plus notary, registry and conveyancing fees. Resale homes are subject to transfer tax (ITP), while new builds pay VAT. Altogether it usually amounts to around 10-13% extra. We explain it in detail in our guide to the costs and taxes of buying in Mallorca.
6. Language and legal support
Buying in another country and language can raise questions. That is why we provide legal advice and translators, and offer service in Spanish, English and German, so you understand every document and every step. Our priority is that you buy safely and without surprises.
Frequently asked questions
Do I need to live in Spain to buy?
No. You can buy as a non-resident; you only need the NIE and a Spanish bank account. Buying does not require you to live in Spain.
How long does the buying process take?
Once the property is found, it usually completes in about 6-10 weeks, depending on documentation and financing.
Can I buy remotely if I cannot travel?
Yes. Through a power of attorney you can authorise someone you trust to sign on your behalf, which is common in international purchases.
At DeAlmeida Properties we support international buyers at every step, from the search to the signing. Discover our available properties, explore the best areas of Mallorca or tell us what you are looking for and we will reply to you personally.
